How the Economy affects the Furniture Business 

In October, there was a growth of jobs of 250,000. That means more workers will have more money to furnish their homes and some or many of them are having to move and furnish the new homes. Unemployment is at 3.7% which is the 97 straight month that it has gone down. The wage growth is 3.1% which is the highest since 2009. Inflation is still around 2%. 

furniture lifeBusiness spend dropped to 0.8% increase from a 7.0% increase. United States banks are losing deposits. The same drugs are cheaper in Europe than in the United States. It costs $17,850 for a urine test and $109,000 for heart attack treatments. Global stocks are at a 2 year low. Lending standards are being tightened.  

Connecticut once had no income tax. From 1976 until 1991 they led the country in Gross Domestic Product growth. Then in 1991 they passed a 4.5% flat tax. Now the population has decreased so much that additional tax increases are finding less people left willing to pay them. The economy is down 9.3% since 2007 alone, and now they face a 2020 deficit of $2 Billion.

Leave a Reply

Your email address will not be published. Required fields are marked *